Strategic Meet: IREDA Outlines Robust Plans for Business Expansion and Cost Reduction Initiatives

Strategic Meet: IREDA Outlines Robust Plans for Business Expansion and Cost Reduction Initiatives

Gurugram: Indian Renewable Energy Development Agency Limited (IREDA), in partnership with its knowledge partner Boston Consulting Group (BCG), convened a Strategic Meeting today in Gurugram, focusing on key aspects of business expansion and initiatives aimed at cost reduction in fund utilization.Inaugurating the Strategic Meet, Shri Pradip Kumar Das, Chairman and Managing Director (CMD) of IREDA, expressed confidence in the organization's trajectory towards robust progress.

He emphasized that the discussions held reinforce their commitment to achieving targets while maintaining financial stability. Shri Das stated, "Today's deliberations underscore our constant dedication not only to meet but exceed our ambitious targets. I am confident that our strategic actions will not only shape the future of IREDA but also significantly contribute to the advancement of a sustainable and dynamic renewable energy landscape in the country."

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The Strategy Team of IREDA presented their initiatives, incorporating a comprehensive report on Key Performance Indicators (KPIs) and proposed IT-based enhancements aimed at improving overall efficiency and user experience. 

Deliberations included discussions on the anticipated Gross Non-Performing Assets, accompanied by the formulation of a robust recovery action plan to ensure financial stability amid potential challenges.

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The strategic meet extensively covered the retail sector and outlined the proposed IREDA strategy for retail growth among other things. A central theme of the discussions was the implementation of initiatives to reduce the Cost of Funds. The leadership team conducted a thorough review of domestic and foreign lines, exploring strategies for optimizing bond raising to address excess liquidity.

The meet concluded with a firm commitment from IREDA to continue in its efforts to promote renewable energy and sustainable development in alignment with the Government of India's vision and targets.

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